Sell JPYINR AUG @ 60.6 SL 60.9 TGT 60.3-60.1 - Kedia Advisory
USDINR
BUY USDINR AUG @ 95.2 SL 95 TGT 95.4-95.6.
Observations
USDINR trading range for the day is 95.08-95.48.
Rupee ended marginally weaker as sustained hedging appetite from importers weighed even as a cool off in oil prices.
Diminishing odds of a Fed rate hike next month, along with optimism surrounding a potential U.S.-Iran deal, weighed on the dollar.
India Services PMI was revised slightly higher to 53.3 in July 2026 from the preliminary estimate of 53.1 but remained well below June's final reading of 57.4.
EURINR
SELL EURINR AUG @ 110.2 SL 110.5 TGT 109.9-109.6.
Observations
EURINR trading range for the day is 110.03-110.39.
Euro gains as reports of a partial reopening of the Strait of Hormuz, easing inflation concerns and reducing expectations for additional interest rate hikes.
Uncertainty created by wars and trade friction will continue to weigh on euro zone economic growth this year.
Germany's factory orders rose 3.1% mom in June 2026, picking up from a downwardly revised figure in May and easily beating market estimates of 0.3%.
GBPINR
SELL GBPINR AUG @ 128.7 SL 129 TGT 128.4-128.1.
Observations
GBPINR trading range for the day is 128.56-129.
GBP gains amid growing optimism that the US and Iran could reach a deal to end their five-month conflict and reopen the Strait of Hormuz.
Governor Andrew Bailey downplaying the need for further rate hikes and saying the disinflation process remains on track.
UK Services PMI increased to 52.1 in July 2026, revised up from the preliminary 51.8 and recovering from June's 48.8.
JPYINR
SELL JPYINR AUG @ 60.6 SL 60.9 TGT 60.3-60.1.
Observations
JPYINR trading range for the day is 60.55-60.55.
JPY steadied as concerns about a proposed U.S.-Iran deal and jitters about upcoming U.S. payroll data left traders cautious.
BOJ policymakers debated mounting price risks that likely required more rate hikes even as they raised borrowing costs to a 31-year high in June.
Fitch Ratings said that the Bank of Japan will likely need to hike policy rates to support further yen appreciation.
